Binance Referral Code 2023
By encouraging your friends to join the Binance community, you can gain exposure to a new method of generating crypto profits that doesn’t involve trading. Get your mates involved, and you can all make some crypto (better make that 100 USDT each and up to $72,000 in bonuses!). Into the bargain, you can also enjoy up to a $50 sign-up bonus just for signing up with Binance. Our discount code, however, doubles that amount.
But, let me briefly introduce you to the Binance referral program, first.
If you successfully refer a new user to Binance through the Standard Referral Mode, you will get a cut of the fees that the user pays whenever they trade on any of Binance’s Spot or Futures markets. This implies that you can invite users by using a Spot regular referral code or a Futures referral code, and you will receive the commission from both of these mechanisms.
After a quick introduction to Binance, I’ll go into more detail on the subject.
Table of Contents
What Is Binance?
When discussing Binance, the most widely used cryptocurrency exchange, I am convinced that only superlatives spring to mind in traders’ thoughts. Since its establishment in 2017, this global marketplace has been unrivalled in terms of market size, depth of liquidity, number of active traders, diversity of trading options, payment methods, and competitive exchange rates.
To further back up its reputation as the industry’s leader and the most user-friendly exchange, Binance offers not one but three distinct trading environments: a streamlined platform aimed at newcomers, an advanced marketplace aimed at professional investors, and a third platform explicitly designed for US residents to ensure compliance with US-regulatory frameworks and trading standards. Indeed, Binance is your one-stop shop for all your trading needs.
How to Use the Binance Referral Code
Spot and Futures trading are two separate affiliate programs within the Binance platform. Through the program, you can generate unique standard referral links to promote account creation and trading on Binance among your target group of potential clients in each of the markets.
One thing, though. The standard referral link on Binance allows you to earn up to a 50% commission on every trade made by a user you referred, but with our referral link – you’ll be twice as happy with your 100 USD bonus. Namely, as a Binance affiliate, I went through the process and generated a link through which you can get 100 USD as a welcome incentive.
All you need to do to benefit from the Binance standard referral code is the following:
- Click the Register button on the Binance homepage to set up a trading account;
- When creating an account, you’ll be prompted to enter your telephone number, a valid email address and a passphrase of your choosing (make sure it’s a strong one);
Afterwards, you will need to input your referral code. If you want the full $100 welcome bonus, which is double what other offerings pay, you need to use our code.
- Enter your personal information and click the Create Personal Account button once you’ve read and accepted all T’s and C’s of the Binance Referral program;
- After successfully registering your account, you must complete the referral bonus task to receive your referral incentive. The assignment requires you to make your initial deposit and conduct two spot transactions on Binance within seven days of opening your account.
- After successfully completing these steps, you’ll get cashback vouchers redeemable for 100 USD worth of free cryptocurrency.
Binance Review
Binance is the most popular cryptocurrency exchange due to its wide selection of cryptocurrencies and attractive trading costs. If you’re an experienced trader, you’ll appreciate the platform’s attention to detail. If you’re just starting in the crypto realm, Binance’s wealth of trading options, tools, and features displayed on its UI may initially seem overwhelming. Therefore, learning the ropes of trading before diving into Binance’s cryptocurrency market is a good idea.
While the more advanced trading tools (such as margin and futures trading) may be helpful for seasoned pros, beginners in the cryptocurrency market may be overwhelmed by the sheer number of options available. I’m sure you will be relieved to learn that it is pretty simple to toggle between the standard user interface, which offers only the most fundamental trading choices, and the advanced user interface, which give you connectivity to all the financial instruments available on this trading platform.
Supported Cryptocurrencies
I believe the exchange’s greatest strength is the incredible breadth of crypto projects it supports, making it simple to trade with your favourite currency using an equally staggering number of available trading pairs.
Namely, Binance supports Bitcoin trading and provides access to more than 700 other cryptocurrencies. You can trade Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Stellar Lumens (XLM), Litecoin (LTC), Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Polkadot (DOT), and almost any other digital assets on the market through this platform.
Therefore, I expect that Binance’s wide variety of digital assets will appeal to a sizable audience of crypto traders and buyers who value flexibility.
Fees
Binance’s trading costs are among the lowest in the business compared to other exchanges. The details are listed below.
Deposit Fees
If you’re an experienced trader, I recommend Binance because there are no costs associated with depositing fiat or cryptocurrency. Newbies with modest amounts of cryptocurrency holdings can quickly fill their Binance accounts with credit cards or via bank transfer.
When making a deposit, however, remember that there may be fees associated with the payment option you select. Whereas wire transfers between bank accounts usually incur no costs, debit card purchases typically do. Binance, for instance, charges its clients 1.8% for using a credit card to fund their accounts.
Trading Fees
Binance’s fees for buying and selling cryptocurrency are tiered by the volume of trades executed over a 30-day period and the number of BNB you hold daily. Transaction fees for buying and selling cryptocurrencies typically range from 0.5% to 1%, with spot trading fees adding another 0.1% per transaction.
Withdrawal Fees
When you withdraw cryptocurrency from Binance, you’ll have to pay a variable network fee similar to what other cryptocurrency exchanges charge. When the value of a cryptocurrency rises in demand, the blockchain network may decide to adjust the costs associated with its withdrawal, resulting in higher fees. On the other hand, if you want to withdraw crypto from your Binance balance, the exchange won’t charge you any fees.
Pros
- The largest, most popular and liquid market for trading;
- A trading platform with competitively cheap fees;
- Offers the most comprehensive range of digital currencies, fiat currencies, trading pairs, and investment alternatives;
- Suitable for beginners and professional investors;
- Allows for derivatives, margin and futures trading contracts;
- Provides a distinct marketplace for US citizens.
Cons
- No regulatory oversight over the platform;
- New traders could be overwhelmed by the variety of available trading instruments;
- Some concerns have been expressed about the reliability of the platform’s security mechanisms;
- Faces regulation disputes in several countries.
Binance vs Coinbase
When compared to Binance, Coinbase’s deposit bonus structure is relatively modest. With a $100 cumulative deposit (over 180 days), you can buy Bitcoin or any other digital asset and receive $10 in Bitcoin as a bonus on Coinbase.
Moreover, your Coinbase bonus is yours to invest, trade, or withdraw as you see fit, unlike the Binance reward, which you can use only toward the reduction of your trading fees.
Binance vs Crypto.com
If you’re a new user of Crypto.com and you sign up with the referral code cro10, the exchange will reward you with $10 as a welcome bonus. Simply clicking on the relevant links on this page will immediately effect this change.
To unlock methods for earning a greater bonus, you will need to purchase, lock, and stake CRO, the platform’s native token. From this perspective, it turns out that the Binance tasks are easier to do, and the payoff is higher than the Crypto.com referral bonus.
The opportunity to earn crypto income on holdings, including Bitcoin, is Crypto.com’s key selling point. However, to qualify for the higher APY percentages, you must stake CRO and commit to a lock-up time of at least three months.
Binance vs Huobi
Huobi’s referral program is much like Binance’s in several respects. Huobi’s referral program is similar to Binance’s in many ways. The primary difference is that Huobi users compete to get first to the $2,000 HT bonus pool and gain up to 40% referrals for Huobi Spot and 30% for Huobi Futures.
On the other hand, affiliates who sign up with Binance must complete a set of tasks before they can claim their reward, which is nearly equivalent to Huobi.
Binance Alternatives
Binance may be the best cryptocurrency exchange on the market, but it’s not suited for everyone. This is particularly true for those new to cryptocurrency trading or those who reside in a jurisdiction where the platform is not accessible.
For these users, Kraken, eToro, and Coinbase Pro are the most viable alternatives to Binance, as these platforms offer comparable trading conditions, liquidity, and financial instruments to the mega-popular Chinese exchange.
FAQs
Which Binance users are eligible for the $100 bonus?
To be eligible for the bonuses provided through the Binance Welcome Offer, you must be a new user, i.e. sign up for the first time on the exchange. Please note that you have seven days from the time of your account setup to complete the necessary steps and take advantage of this offer.
You also need to be referred to the platform by an associate participating in this program to receive the signup bonus.
What’s a Binance cashback voucher?
You can think of the cashback vouchers you obtain through this cryptocurrency exchange as items analogous to gift cards because they can be redeemed for a particular good or service, in this case, monetary funds.
If you purchase or sell cryptocurrency on Binance, you can apply the cashback vouchers you receive from the exchange towards the 0.1% trading cost.
However, if you want a bonus that you can actually use to withdraw or invest money, your best bet is to go with Coinbase as your cryptocurrency exchange of choice.
Does any Binance referral link provide a $100 bonus?
In fact, if you use our referral link to sign up for Binance, you’ll get a $100 bonus. Find it here, and make the most of your new venture with Binance.